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Irish tech startup founded by wife, husband and brother raises $26M Series A to fix corporate gifting

&open founders
Image credits: &Open

&Open, a platform delivering better gifts at scale for companies that care, has just secured $26 million in Series A funding at Collision in Toronto.

The round was led by Molten Ventures (invested in CoachHub and PrimaryBid) along with participation from First Round Capital, LocalGlobe, Tribal VC, and new investor Middlegame Ventures. Other new and existing investors also contributed to this round. With this, the total capital raised by &Open accounts for $33.2 million.

&Open On-Demand Beta launch

The new capital will help &Open expand its reach as a scalable consumer-grade SaaS platform and deepen its integration ecosystem.

The company has announced that it will launch &Open On-Demand Beta next week. This will be a new gifting marketplace and will give SMEs the power to gift in the moment and the freedom to pay as you go. Companies can officially join the waitlist for the public beta launch of &Open On-Demand.

It will also use the funds to enable &Open to expand to small and medium-sized enterprises (SMEs) through its latest offering, &Open On-Demand, a platform designed to make better gifting more accessible.

Nicola McClafferty, partner at Molten Ventures said, “&Open has proven that gifting, when done right, is an incredibly powerful tool to increase brand loyalty and build advocacy. We’ve been highly impressed with how the team have built out a global platform that makes carefully crafted, sustainably-sourced and beautiful gifts more accessible to people and companies across the globe. Jonathan, Ciara, Mark, and the team approach the business in the same way they do gifting — with immense thoughtfulness, attention to detail, and a focus on how to make a difference. We are excited to be supporting &Open as it launches On-Demand and continues to build on its existing success.”

“&Open is bringing care and consideration to an industry known for thoughtless, mass-produced merch,” said Hayley Barna, partner at First Round Capital. “Not only has the company significantly grown its client roster, team, and product since last year’s seed round, but it remains on a purposeful and strategic trajectory. FRC is thrilled to back &Open’s mission, vision, and roadmap yet again, and can’t wait for the world to experience all the company has to offer through its new On-Demand service.”

Makes gifting more accessible

Dublin-based &Open was founded in 2017 by Ciara Flood along with her husband Jonathan Legge and her brother-in-law Mark Legge. The company aims to fix corporate gifting by delivering better gifts at scale for companies that care. From curating thoughtful gifts to seamless sending, it integrates companies’ existing processes and workflows to make gifting easy and joyful.

All clients gain instant access to a curated community of best-in-class brands. The scalable consumer-grade enterprise platform serves leading brands such as Airbnb, Peloton, Spotify, Hopin, Intercom, Wayflyer, and Better-Up.

&Open has already grown its team to over 90 employees across Ireland, the U.K, and the U.S., and plans to open an office in New York City in the next year. Also, the company has experienced exponential growth, increasing Annual Recurring Revenue (ARR) by over 376% and growing new clients by 270% in the last year alone despite the economic uncertainty.

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